Islamabad, March 06, 2023: Mobilink Microfinance Bank Ltd. (MMBL) has taken another step towards expanding its reach across Pakistan by partnering with CASH1 - owned by Webdnaworks Private Limited. Webdnaworks is the pioneer of Independent ATM deployment and operations in Pakistan and is the first non-banking entity to get the State Bank of Pakistan’s license of Payment Service Operator (PSO) and Payment Service Provider (PSP) for the deployment of Off-Site ATMs under the brand CASH1.
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As part of this joint initiative, CASH1 will be providing
Off-site ATM deployment services to MMBL, enabling the Bank to broaden its
outreach and enhance its service in far-flung areas where customers lack
adequate access to basic facilities and infrastructure, thereby increasing
access to financial services for those who have been traditionally unserved and
underserved.
The deployment of Off-Site ATMs will provide greater convenience
and accessibility to customers, allowing them to access their accounts and
conduct transactions at any time. This is an important step towards increasing
financial inclusion. It will allow MMBL to serve a larger number of customers,
particularly those in remote and hard-to-reach areas across the country, and implement
the State Bank of Pakistan’s National Financial Inclusion Strategy
(NFIS).
Sharing his thoughts at the signing ceremony, Ghazanfar Azzam,
President, and CEO MMBL said, “We are excited about this partnership with
CASH1, as it will enable us to extend our reach even further and provide
greater convenience and accessibility to our customers. Deploying CASH1's ATM
services is critical to MMBL's mission to improve financial inclusion in
Pakistan. Under this partnership, the Bank strives to offer flexible banking
services to previously underserved communities and is confident that it will
provide reliable and efficient ATM services to all its customers while bridging
the gap between the formal banking sector and the unbanked population.”
On the occasion of the signing ceremony, Qamar Abbas, Executive
Director of Webdnaworks Private Ltd. said, “We are delighted to roll out our
'bank in the box' business model that will go some way to digitize cash-out
payment to the general public, not only in the major cities but also in the
rural areas of Pakistan through this partnership with MMBL.”
As part of its unwavering commitment to expanding financial
inclusion and addressing the banking needs of underserved communities, MMBL has
also launched several other offerings, including the DOST App making its
services more accessible to customers across the country. By teaming up with
CASH1, MMBL has yet again demonstrated its dedication to increasing its
services’ speed and flexibility while extending its reach to previously
inaccessible areas.